If your maximum bid was $150 plus postage, then the guy who bid $160 plus postage overpaid.
If you were willing to go higher, then bid once, bid late, bid your actual maximum.
You may not get the item, but you will force the other guy to scrape the bottom of his wallet.
Mwah-Hah-Hah-Hah!
Mine is an evil laugh. - Hoban Washburne.